Viacyte Announces Closing Of $45 Million Financing To Advance Broadest Portfolio Of Stem Cell-Derived Therapies For Type 1 Diabetes
Viacyte Announces Closing Of $45 Million Financing To Advance Broadest Portfolio Of Stem Cell-Derived Therapies For Type 1 Diabetes
06/09/21, 12:13 PM
Location
san diegoMoney raised
$45 million
ViaCyte, Inc., a clinical-stage regenerative medicine company, today announced the closing of a $45 million financing tranche that brings the total Series D financing to more than $115 million. The financing includes participation by existing investors Bain Capital Life Sciences, TPG Capital, RA Capital Management, Sanderling Ventures, as well as long-time insiders. New investors in the round include Adage Capital Partners, Invus Group, Asymmetry Ventures, and Artis Ventures. Proceeds from the financing will be used to fund the most advanced portfolio of stem cell-derived therapies designed to provide a functional cure for patients with type 1 diabetes.
Company Info
Location
san diego, california, united states
Additional Info
ViaCyte is a privately held regenerative medicine company developing novel cell replacement therapies based on two major technological advances: cell replacement therapies derived from pluripotent stem cells and medical device systems for cell encapsulation and implantation. ViaCyte has the opportunity to use these technologies to address critical human diseases and disorders that can potentially be treated by replacing lost or malfunctioning cells or proteins. The Company's first product candidates are being developed as potential long-term treatments for patients with type 1 diabetes to achieve glucose control targets and reduce the risk of hypoglycemia and diabetes-related complications. To accelerate and expand the Company's efforts, ViaCyte has established collaborative partnerships with leading companies, including CRISPR Therapeutics and W.L. Gore & Associates. ViaCyte is headquartered in San Diego, California. For more information, please visit www.viacyte.com and connect with ViaCyte on Twitter, Facebook, and LinkedIn.
SOURCE ViaCyte, Inc.